07 July 2009
Log on to www.incometaxindia.gov.in for obtaining Banglore office address. Gift tax has already abolished 2 years back. There is no question of change in Gift tax Act. However F.M. has made certain amendments in section 56 as regards gift received for inadequate consideration with a margin of (+ -) 50,000/-. Gift in kind now become taxable as per the value adopted by the stamp duty authority.
07 July 2009
the Income Tax Department , CPC, Post Bag No - 1, Electronic City Post Office, Bangalore - 560100, Karnataka BY ORDINARY POST ONLY within thirty days after the date of transmitting the data electronically .
ITR-V sent by Speedpost, Registered Post or Courier will not be accepted. No Form ITR-V shall be received in any other office of the Income-tax Department or in any other manner.
CAclubindia
